Asian stocks mostly higher after data points; Nikkei down 0.43%


Asian stocks traded mostly higher Tuesday following the release of scores of regional data points with market-moving potential. 

In Asian trading Tuesday, Japan’s Nikkei fell 0.43% following the release of a flurry of data points out of the world’s third-largest economy. Earlier Tuesday, Japan’s Statistics Bureau said the country’s unemployment rate fell to 4.1% in March from 4.3% in February. Analysts expected a March reading of 4.3%. 

In a separate report, the Statistics Bureau said Japanese household spending climbed 5.2% in March following a 0.8% gain in February. Analysts expected a 1.8% increase. 

Japan’s Ministry of Economy, Trade and Industry said industrial production there rose 0.2% in March after a 0.6% increase in the prior month. Economists expected a 0.4% increase. 

In another report, the Ministry of Economy Trade and Industry said retail sales fell 0.3% in March from a year earlier. Analysts expected a 0.6% increase. Big-box retailers performed better with a March sales increase of 2.4%. 

Hong Kong’s Hang Seng rose 0.67% while the Shanghai Composite remained closed for a public holiday. 

Australia's S&P/ASX 200 added 0.8%, helped by a strong profit report from Australia & New Zealand Banking Group, that country’s third-largest bank. Earlier Tuesday, the Reserve Bank of Australia said that Australian private sector rose 0.2% last month. Analysts expected a 0.3% increase. 

New Zealand’s NZSE 50 rose 0.45% even after Statistics New Zealand said that New Zealand building consents dropped 9.1%. That was good for the lowest level of apartment approvals in three years. 

Excluding apartments, consents fell 3.1%. The total value of all consents rose 10% to NZD937 million while non-residential consents jumped 20% to NZD365 million. 

South Korea’s Kospi jumped 1.15% even after industrial production there slumped for a third consecutive month. 

Singapore’s Straits Times Index added 0.24% despite a survey showing unemployment there rose 1.9% in the first quarter from 1.8% in the prior quarter. Analysts expected the first-quarter reading of 1.9%.